forexhero
12-29-2008, 04:34 PM
Hi guys,
I thought about this tool that can be written and wanted to take your opinion on it before actually starting the work on it.
Here's the basic rough idea:
(Please feel free to suggest improvements on this idea)
1. Write a non-trading EA that would monitor your trades and upload your open positions/trades (anonymously) onto a central server.
2. If enough people are running this EA onto their accounts and they are also running some other EA (like FAP, FAPT, etc), we'll get a good wealth of information on the server.
3. The server can then compute probability of a good trade by looking at the trades that were done by various members and their EAs. The server can then compute a confidence level of what should be a good trade.
4. This information can then be passed down to the same or another EA that will then execute the trades...
Some disadvantages or questions why this might not work:
(Feel free to comment on these as well)
1. Scalping sometimes is too quick and this system might not work in that case, sine it would take time to upload and download the trades from the server. I'm estimating atleast a 3 second lag.
2. Enough people with diverse and good EAs should be running this EA as well for the system to be successful.
3. Different EAs have different trading strategies, I have heard that you will only be successful if you stick to one trading strategy. By this system we would be aggregating different trading strategies, so I'm not sure if that'll work out good.
Advantages:
1. Different good EAs could all be working on demo accounts, and once we find that this system does work, we can run this EA on live account.
2. Aggregating the results of different EAs might be good as well, if FAPS, FAPT (and other good EAs, I'm sorry I dont know other good ones) all bought EURUSD at around the same time and around the same price, then this is an indicator that this must be the correct thing to do.
3. We can plot the aggregated trades on a chart and view them on a webpage to see overall what everyone is doing at what time.... This can tell us if majority of us do wrong trades or do good trades, we can also later on filter the wrong trade guys and only keep the good trades ppl...
Please feel free to comment on this and give me more suggestions.
If you think this is something good, I'm willing to spend some time coding this up!
Thanks
I thought about this tool that can be written and wanted to take your opinion on it before actually starting the work on it.
Here's the basic rough idea:
(Please feel free to suggest improvements on this idea)
1. Write a non-trading EA that would monitor your trades and upload your open positions/trades (anonymously) onto a central server.
2. If enough people are running this EA onto their accounts and they are also running some other EA (like FAP, FAPT, etc), we'll get a good wealth of information on the server.
3. The server can then compute probability of a good trade by looking at the trades that were done by various members and their EAs. The server can then compute a confidence level of what should be a good trade.
4. This information can then be passed down to the same or another EA that will then execute the trades...
Some disadvantages or questions why this might not work:
(Feel free to comment on these as well)
1. Scalping sometimes is too quick and this system might not work in that case, sine it would take time to upload and download the trades from the server. I'm estimating atleast a 3 second lag.
2. Enough people with diverse and good EAs should be running this EA as well for the system to be successful.
3. Different EAs have different trading strategies, I have heard that you will only be successful if you stick to one trading strategy. By this system we would be aggregating different trading strategies, so I'm not sure if that'll work out good.
Advantages:
1. Different good EAs could all be working on demo accounts, and once we find that this system does work, we can run this EA on live account.
2. Aggregating the results of different EAs might be good as well, if FAPS, FAPT (and other good EAs, I'm sorry I dont know other good ones) all bought EURUSD at around the same time and around the same price, then this is an indicator that this must be the correct thing to do.
3. We can plot the aggregated trades on a chart and view them on a webpage to see overall what everyone is doing at what time.... This can tell us if majority of us do wrong trades or do good trades, we can also later on filter the wrong trade guys and only keep the good trades ppl...
Please feel free to comment on this and give me more suggestions.
If you think this is something good, I'm willing to spend some time coding this up!
Thanks